Canada

Life sciences venture capital firm Vida Ventures raises $825 mln

Life sciences venture capital firm Vida Ventures said on Thursday it had raised $825 million in an oversubscribed funding round for its third fund from existing and new blue-chip institutional investors across the globe.

Vida, an investment firm that has more than $1.7 billion in assets under management, said its Vida III fund will focus on identifying and investing in transformative biomedical innovations.

Investors who participated in the round include sovereign wealth funds, endowments and foundations, pensions, financial institutions, family offices and individuals.

Vida was founded in 2017 by a group of scientists, physicians, entrepreneurs and investors. It has since made 30 investments in companies developing therapies for diseases that are difficult to treat across oncology, neurology and autoimmunity, among others.

The company’s portfolio includes Kinnate Biopharma, Dyne Therapeutics, Praxis, Sutro Biopharma and Centessa Pharmaceuticals.

(Reporting by Sohini Podder in Bengaluru; Editing by Shinjini Ganguli and Devika Syamnath)

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